Is there a guide available to set up staking?

I managed to follow the prompts to add the extension to my Brave Browser, then created an ‘injected’ wallet? but where to from there? how do you transfer your DOT tokens to it as all attempts have so far been rejected… Any help would be appreciated

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Hey! The wiki has a guide to staking independently( non-custodially):

Staking independently has a few advantages over staking custodially including:

  • You retain control over your funds while you stake.
  • You can earn slightly higher rewards.
  • You can nominate diverse validators which contributes to network decentralization.

Drawbacks to staking independently include:

  • There’s a learning curve.
  • There’s a minimum DOT balance requirement for getting rewards. For more info please see this thread.
  • DOTs are not transferrable while they are staked. If you want to transfer them, you have to unbond them first, a process that takes 28 days.

If you’re interested in a plug-n-play, more newbie-friendly option, I’d recommend a custodial service like Kraken. There are videos on Youtube for how to do so.

Staking with Kraken has a few perks including:

  • Funds are transferrable any time.
  • Easier learning curve.

Disadvantages include:

  • Kraken nominates their in-house validators which contributes to network centralization.
  • Funds are not guaranteed and stakers do no retain control while they stake. Here’s the disclaimer at the bottom of their staking page:

So, pros and cons to each. Good luck, let us know if you have other questions.

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Thanks @windylion. This is a good guide. :smile:

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